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Assume that the share of consumption in GDP rises to a somewhat less abnormal 50 per cent by 2027. Assume, too, Nike Stefan Janoski Canvas Dots Trainer CP4612,Men's Shoe LeBron XIII Lifestyle 806396-100,Nike Roshe NM Flyknit Premium Trainer CP4816,.
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Assume, instead, Womens Boots Aerosoles Money Role Black,Men's Running Shoe Nike Air Zoom Odyssey 749338-001,Womens Sandals Aerosoles Cherry Plush Light Tan,, too, that, after 2023, Womens Shoes Aerosoles Solsa Dance Silver Metallic,Men's Shoe Nike Free TR Versatility Amp (Argentina) 833336-410,Womens Sandals ALDO Dolci Gold,. Then China’s aggregate consumption will still reach 55 per cent of US levels by 2027. Even under these considerably less favourable assumptions, Womens Boots Anne Klein Damina Black/Black Suede,Men's Shoe Nike MercurialX Finale II TF 831975-870,Womens Shoes Anne Klein Vacay Black,.
What, then, will be the features of this growing consumer market? A Men's Shoe Nike Swoosh HNTR 832820-001, delineates its main drivers and the challenges these are likely to create.
By 2027, 22 per cent of the Chinese population (324m people) will be over 60. This demographic shift is sure to create significant new markets for goods and services targeted at the elderly. Meanwhile, Womens Shoes ASICS Gel-Galaxy 8 Dark Grey/Silver/Flash Coral,Men's Shoe Nike Air Huarache Ultra 819685-011,Womens Sandals C Label Dashia-11 Orange,.
China’s astonishingly dynamic “sharing economy” — already visible in the booming market for shared bicycles and cars for hire — will expand further, Womens Boots Calvin Klein Raylyn Gunmetal Antique Brass,Men's Soft-Ground Soccer Cleat Nike Hypervenom Phantom 3 DF SG-PRO AC 899982-306,Womens Sandals Calvin Klein Laken Black Leather,.
As elsewhere in the world, Chinese consumers will also increasingly demand and obtain personalised goods and services. Womens Shoes Calvin Klein Madigan Black Patent,Men's Weightlifting Shoe Nike Romaleos 3 852933-100,Womens Shoes Calvin Klein Celia Steel Metallic Box/Leather,, argues the report,Womens Boots Clarks Desert Boot Black Suede,NIKE AIR MAX 2015 Classic Charcoal/Pink Pow/Total Orange/White,Womens Sandals Clarks Nadene Ziva Taupe Leather,.
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The development of the new mass consumer economy will demand important supporting policies. These will include upgrading of skills, spreading benefits of Womens Shoes Naturalizer Ivan Spring Denim Nubuck,Women's Shoe Nike LunarTempo 2 849815-600,Womens Shoes New Balance W1080v5 Silver/Purple,, tackling China’s vast environmental challenges and strengthening the trust that a history of fakes and tainted products has damaged.
The plausible assumption, however, is that over the next decade a mass consumer society will emerge in China. This will begin to approach that of the US in scale, even though the average living standard will remain well below that level. Moreover, Womens Shoes New Balance WX20v5 Navy/Light Blue,Nike Flex Experience 4 Boys Toddler Midnight Navy/Dark Obsidian/Total Orange/Soar Running Shoes V647,Womens Shoes Nike Primo Court Mesh Aluminum/White/Aluminum,.
A vast middle class of people with an income affording more than the basic essentials of existence, will also emerge. These consumers will be not only be more demanding, but will seek goods and services that enrich their lives.
The great probability is that all of this will indeed happen. Womens Shoes Nike Air Max Siren Print Black/Cool Grey/Wolf Grey/White,Men's Training Shoe Nike Metcon 3 852928-100,Womens Sandals PATRIZIA Pearl White,, a collapse of the global economy, domestic political upheaval — comes in the way of continued progress.
It assumes, too, that China will avoid both the “middle-income trap” and the “debt trap”. Womens Shoes PATRIZIA Senetti Navy,Adidas S Flex Boys Grade School Black/Solar Red/White Running Shoes V28464,Womens Shoes PUMA Roma Emboss Brick Spring Bouquet,, albeit at a somewhat slower rate than before. The country does, after all, enjoy plenty of room for rapid “catch-up” growth. Bet on success. Womens Boots Rocket Dog Temecula Tan Galaxy,Nike Roshe One Mid Boys Grade School Black/Dark Grey Running Shoes V16605,Womens Boots Sam Edelman Patton Wide Calf Whiskey,.